February 14, 2018 / 5:43 PM / 5 months ago

Millennium bcp 2017 net jumps to 186.4 mln euros

LISBON, Feb 14 (Reuters) - Portugal’s largest listed bank Millennium bcp posted on Wednesday a sharp jump in 2017 net profit, to 186.4 million euros from 24 million euros a year earlier, boosted by strong domestic earnings and rising net interest income.

Net interest income rose 13 percent in 2017 to 1.391 billion euros.

Millennium chief executive Nuno Amado told journalists that domestic activity contributed 39 million euros to net profit, helped by having a performing credit portfolio in Portugal for the first time in eight years.

Millennium’s non-performing exposures (NPEs) in Portugal fell by 1.8 billion euros to 6.8 billion euros, below the bank’s original target of 7.5 billion euros for 2017.

Reporting By Sergio Goncalves and Axel Bugge

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